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BRIEF-AMP Posts 2019 Underlying Profit Of $464 Million

Published 13/02/2020, 07:49 am
© Reuters.  BRIEF-AMP Posts 2019 Underlying Profit Of $464 Million
AMP
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Feb 13 (Reuters) - AMP Ltd AMP.AX :

* 2019 UNDERLYING PROFIT OF $464 MILLION HAS REDUCED 32% FROM $680 MILLION IN 2018

* FY REVENUE FROM ORDINARY ACTIVITIES $ 23,720 MILLION VERSUS $8,286 MILLION

* AUSTRALIAN WEALTH MANAGEMENT NET CASH OUTFLOWS WERE $6.3 BILLION IN 2019 VERSUS NET CASH OUTFLOWS OF $4.0 BILLION IN 2018

* FY AUSTRALIAN WEALTH MANAGEMENT EARNINGS OF $182 MILLION DECLINED 50% FROM 2018

* FY NET LOSS ATTRIBUTABLE $2,467 MILLION VERSUS PROFIT OF $28 MILLION

* SALE OF AUSTRALIAN AND NEW ZEALAND WEALTH PROTECTION AND MATURE BUSINESSES EXPECTED TO COMPLETE BY 30 JUNE 2020

* POSITION ON DIVIDEND PAYMENTS TO BE REVIEWED AFTER COMPLETION OF SALE OF AUSTRALIAN & NEW ZEALAND WEALTH PROTECTION & MATURE BUSINESSES

* CAPITAL IN EXCESS OF TARGET SURPLUS POST COMPLETION OF AU&NZ WEALTH PROECTION/MATURE BUSINESS SALE TO FIRST BE USED TO FUND NEW STRATEGY

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